NEW YORK — A significant opportunity has emerged for investors in Bitfarms Ltd. (NASDAQ: BITF), as a class action lawsuit has been initiated, prompting a call for affected shareholders to come forward. The Rosen Law Firm, a prominent global advocate for investor rights, announced this development, emphasizing that individuals who purchased Bitfarms securities from March 21, 2023, to December 9, 2024, are eligible to join the suit.
Potential participants in the class action have until July 8, 2025, to file as lead plaintiffs. Interested shareholders can reach out to Phillip Kim, an attorney with the firm, through a toll-free hotline or email for additional details. A lead plaintiff represents the interests of the wider group in guiding the litigation process.
According to the lawsuit, Bitfarms is accused of misleading investors by failing to disclose weaknesses in its internal financial reporting controls. Allegations include incorrectly categorizing financial results related to digital asset transactions and overstating the effectiveness of remediations regarding reported weaknesses. Such discrepancies have led to claims that the company’s previous financial statements were inaccurate and would likely require restatement, resulting in investor losses when the true nature of the reports came to light.
Investors are advised to carefully choose their legal representation. The Rosen Law Firm has a notable history of success in cases of this nature, having secured one of the largest settlements in a securities class action against a Chinese company. The firm was recognized as a leader in this field, consistently ranking in the top tier for its number of settlements and recovery amounts over the years.
While no class has been certified at this stage, affected investors are under no obligation to act immediately. They can opt to engage legal counsel or remain passive participants without losing eligibility for potential recovery. Importantly, individual investors’ chances of compensation are independent of their decision to serve as lead plaintiff.
Updates regarding the case and further information on joining the class action are available through the firm’s contact details.
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